| MIGC LLC |
|
Original Sheet No. 36 : Effective |
| FERC Gas Tariff |
|
|
| MIGC LLC |
RATE SCHEDULE FTS-1
Firm Transportation Service
(Continued)
2. Bidding Process
MIGC will post capacity on its Electronic Bulletin Board (EBB) within
10 days of the date MIGC receives notice from the shipper to initiate the
bidding process and solicit bids for the capacity. Open bids must be tendered
to MIGC via the EBB within 20 work days of the posting. MIGC will have ten
days to choose the highest bid. In case of equal high bids, the equal bidder
with the earliest posting date will be declared the winner. If the original
firm Shipper declines to match the terms of the winning bid, under Section
2.c. below, then the capacity shall be awarded to the winning bidder. The
winning bidder shall then have 30 days from receipt of notification, in which
to execute a new FTS-1 Service Agreement. MIGC shall have the right, on a
non-discriminatory basis, to reject any bid not at the maximum rate.
a. Contents of Bid
A bid must contain the price, term, amount of capacity desired,
primary receipt and delivery points, plus a request fee of the lesser of
$10,000 or one month's reservation fee at maximum rate. If the bid is
accepted, the request fee will be credited to the Shipper's reservation fees.
If the bid is not accepted, MIGC will return the request fee within 30 days of
the date MIGC makes the winning bid determination.
b. Best Offer
MIGC will determine which bid constitutes the best offer by
determining which bid constitutes the highest economic value to MIGC. A net
present value calculation based on rate, term and quantity will be used to
determine the highest economic value, utilizing the latest published FERC
interest rate(s), as determined pursuant to 18 CFR Section 154.67. MIGC shall
notify the original capacity holder of the terms of the winning bid by
telephone or facsimile transmission within 24 hours of determining the winning
bid.
| Issued by: |
| Issue date: |
|
Effective date: 08/01/08 |